Which one of the following statements about cost benefit analysis of strategic initiatives is correct?

1.Benefits are more difficult to quantify than costs; therefore the focus of sensitivity analysis should be on costs.

2.New initiatives should be launchedat the earliest possible time in order to get to the market beforecompetitors

3.For new product initiatives, the window of maximum opportunity refers to the ability tomaximise profits because as yet competition is limited or non-existent.

4.If the strategic risks of undertaking a new initiative are high, the decision should always be to do nothing.